The US president will tax imports from America's three largest trading partners. Both Canada and Mexico plan retaliatory tariffs.

Summary

Donald Trump imposed 25% tariffs on imports from Canada and Mexico and 10% on China, citing drug trafficking and immigration concerns.

Canada and Mexico announced retaliatory tariffs, with Canada targeting $155 billion in U.S. goods and Mexico planning 25% tariffs on American products.

Economists warn the tariffs could raise consumer prices, especially in the auto, food, and housing sectors. China condemned the move and plans to file a WTO lawsuit.

Analysts suggest Trump may adjust the tariffs based on political and economic pressures.

  • Stern
    5•6 days ago

    Wow who would have thought that tariffs invite retaliatory tariffs except everyone in the history of ever